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The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the
The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The common stock was $120,200 and the retained earnings were $57,100 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,000 in stock. Accounts payable Accounts receivable Cash Fees earned Land Building $1,890 10,250 Miscellaneous expense Office expense $1,020 1,200 19,430 Supplies 1,670 70,970 Wages expense 22,680 46,600 Dividends 15,710 156,600 Prepare a balance sheet for the current year ended March 31. Thompson's Computer Services Balance Sheet March 31 Assets Total assets Liabilities Stockholders' Equity Total liabilities and stockholders' equity
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